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May 24, 2013By Michael Cader

News Corp. Approves Separation; Aims for June 28

May 24, 2013By Michael Cader

The board of News Corporation formally approved the division of the company’s assets into two publicly-traded companies. They expect the spinoff to occur in a month, on June 28. As previously described, HarperCollins will join the company’s newspapers, education unit and other division in the New News Corp. which will — upon completion of the deal — be named simply News Corporation. The other assets, focused on film, television and cable/broadcasting, will name itself 21st Century Fox. The New News Corp. has already been authorized to buyback up to $500 million worth of its own shares once it starts trading, […]

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Filed Under: Finance, International News

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